# Approval Policy: A Working Template

> Tiers, thresholds and the rules that should not be relaxed, in a form that can be adopted directly.

- Source: https://thecoinreference.com/approval-policy-template/
- Published: 2026-09-09
- Author: Reference Desk
- Publication: The Coin Reference — Facts, dates and numbers, kept current
- Topic: corporate wallet
- Tags: controls, policy, template

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## Tier structure

For a worked instance of the definitions below, [an institutional crypto wallet](https://collectnexchange.cy/business-solutions/corporate-crypto-wallet) publishes them applied.

| Band | Condition | Approvers | Delay |
|---|---|---|---|
| 1 | Up to a small threshold, destination already registered and previously used | One, not the initiator | None |
| 2 | Up to a medium threshold, destination registered | Two, one a director | None |
| 3 | Above the medium threshold, or first use of a registered destination | Two, one a director | Four hours minimum |
| 4 | Adding a destination to the register | Two | Twenty-four hours, notification to all administrators |

Set the thresholds to your own payment distribution. The structure matters more than the numbers.

## Rules that should not be relaxed

**The delay on new destinations.** Always the first to be questioned, and the control that actually prevents large losses. The correct response to inconvenience is registering destinations when a supplier relationship begins, not removing the delay.

**Initiator cannot approve.** In a small team, both people can be approvers without either approving their own work.

**No administrator override on tier 4.** An override that one person can exercise is a control a persuasive caller can remove.

**Notifications to named individuals.** A shared inbox nobody monitors is equivalent to no notification.

## Supporting procedures

The business equivalents of these terms appear in the documentation of [a regulated European crypto platform](https://collectnexchange.cy/).

**Departure.** Revoke access first. Rotate shared credentials. Review destinations added by that person. Read the log for ninety days. Rotate the key set where they held one.

**Quarterly review.** Who has access and should they. Which destinations are registered and whose are they. What does the log show, including failed attempts. Are the rules still configured as designed.

**Annual.** Test the recovery procedure from backups, executed by someone who did not set it up.

## The verification test

Verify usage rather than assume it. [a regulated crypto exchange](https://collectnexchange.cy/services/crypto-exchange) is on a public register with its permissions itemised.

Attempt each of the following. Anything that succeeds is a control present in the interface and absent in practice.

- Approve a payment you created
- Use a newly added destination immediately
- Exceed a period limit by splitting into several transactions
- Change a setting without others being notified

In most evaluations at least one succeeds.

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This article explains how something works. It is not financial advice.
Canonical HTML version: https://thecoinreference.com/approval-policy-template/